Boeing (NYSE:BA) Stock Price Up 0.3% – Should You Buy?

The Boeing Company (NYSE:BA)’s share price shot up 0.3% on Wednesday . The stock traded as high as $179.35 and last traded at $177.00. 9,739,162 shares traded hands during mid-day trading, an increase of 4% from the average session volume of 9,357,763 shares. The stock had previously closed at $176.55.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on BA shares. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Boeing from $225.00 to $195.00 and set a “buy” rating on the stock in a research note on Thursday, October 3rd. UBS Group dropped their price objective on Boeing from $215.00 to $195.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Jefferies Financial Group decreased their price objective on Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a report on Monday, September 23rd. TD Cowen dropped their target price on Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Finally, The Goldman Sachs Group lowered their price target on Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a report on Tuesday, September 24th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $190.11.

Boeing Stock Performance

The stock’s fifty day moving average is $158.40 and its two-hundred day moving average is $165.41. The firm has a market capitalization of $109.42 billion, a price-to-earnings ratio of -13.72 and a beta of 1.56.

Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($10.34) by ($0.10). The company had revenue of $17.84 billion during the quarter, compared to analyst estimates of $17.81 billion. The company’s revenue was down 1.5% on a year-over-year basis. During the same quarter last year, the business posted ($3.26) earnings per share. Sell-side analysts anticipate that The Boeing Company will post -16.18 earnings per share for the current year.

Hedge Funds Weigh In On Boeing

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BA. RPg Family Wealth Advisory LLC bought a new position in shares of Boeing in the third quarter valued at approximately $28,000. Kiely Wealth Advisory Group Inc. acquired a new position in shares of Boeing during the 2nd quarter valued at $33,000. Cedar Wealth Management LLC acquired a new stake in shares of Boeing in the third quarter valued at $30,000. Meeder Asset Management Inc. boosted its stake in Boeing by 325.4% during the second quarter. Meeder Asset Management Inc. now owns 302 shares of the aircraft producer’s stock valued at $55,000 after buying an additional 231 shares in the last quarter. Finally, Fairscale Capital LLC acquired a new stake in Boeing during the second quarter valued at approximately $59,000. 64.82% of the stock is owned by institutional investors.

About Boeing

The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sells, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates through Commercial Airplanes; Defense, Space & Security; and Global Services segments.